Koss Olinger Consulting LLC Makes New Investment in GE Aerospace (NYSE:GE)

Key Points

• Koss Olinger Consulting LLC acquired a new stake in GE Aerospace by purchasing 7,582 shares worth approximately $1.5 million during the first quarter.
• Several institutional investors have increased their holdings in GE Aerospace, with First Pacific Financial raising its stake by an impressive 46.0% during the same period.
• Analysts have upgraded their ratings, notably with Barclays raising the target price from $230 to $295, reflecting a strong bullish outlook for the company.

Koss Olinger Consulting LLC bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,582 shares of the company's stock, valued at approximately $1,518,000.

Several other hedge funds have also made changes to their positions in the stock. Lcnb Corp bought a new position in shares of GE Aerospace in the first quarter valued at approximately $257,000. Zions Bancorporation National Association UT acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $580,000. Townsquare Capital LLC increased its holdings in shares of GE Aerospace by 13.1% in the first quarter. Townsquare Capital LLC now owns 42,398 shares of the company's stock valued at $8,486,000 after purchasing an additional 4,895 shares in the last quarter. Integrity Financial Corp WA acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $313,000. Finally, Savvy Advisors Inc. grew its holdings in GE Aerospace by 10.1% during the 1st quarter. Savvy Advisors Inc. now owns 7,958 shares of the company's stock worth $1,593,000 after acquiring an additional 728 shares during the period. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Barclays lifted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Price Performance

NYSE:GE traded up $4.75 on Tuesday, hitting $279.95. The company had a trading volume of 1,850,571 shares, compared to its average volume of 6,072,383. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $280.54. The firm has a 50 day moving average of $255.87 and a two-hundred day moving average of $222.43. The stock has a market capitalization of $296.87 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the company posted $1.20 earnings per share. On average, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

About GE Aerospace

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.